Form 4: RBB Bancorp EVP Gary Fan Reports Stock Transactions Following RSU Vesting
SEC Form 4 Filing
Gary Fan, EVP/Chief Operations Officer of RBB Bancorp, reports the vesting of restricted stock units and subsequent stock transactions to cover tax obligations.
Summary
- On February 21, 2025, Gary Fan, EVP/Chief Operations Officer of RBB Bancorp, reported transactions related to the vesting of restricted stock units (RSUs).
- Mr. Fan acquired 1,011 shares of common stock upon the vesting of RSUs at a price of $17.25.
- Simultaneously, 416 shares were disposed of to cover tax withholding obligations related to the RSU vesting, also at $17.25.
- Following these transactions, Mr. Fan directly owns 595 shares of RBB Bancorp common stock.
- Mr. Fan also holds options for 18,000 shares, 2,022 restricted stock units, 3,944 restricted stock units, and 5,916 performance stock units.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions, and does not inherently convey positive or negative sentiment.
Future Outlook
The document does not contain any specific forward-looking statements or guidance.
Industry Context
This Form 4 filing is a routine disclosure related to executive compensation and stock ownership, common among publicly traded companies. It provides transparency into the transactions of company insiders.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect routine executive compensation adjustments.
Key Dates
| Date | Description |
|---|---|
| 12/05/2022 | Date of grant for stock options that vest in five equal annual installments beginning one year after this date. |
| 02/21/2024 | Date of grant for restricted stock units that vest in three equal installments beginning one year after this date. |
| 03/20/2024 | Date of grant for restricted stock units and performance stock units that vest in three equal installments beginning one year after this date, subject to performance goals and employment conditions. |
| 02/21/2025 | Date of transaction: Vesting of 1,011 restricted stock units and disposal of 416 shares for tax withholding. |
| 02/25/2025 | Date of signature for the Form 4 filing. |
| 12/20/2032 | Expiration date for stock options. |
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